Presurance exits commercial
Presurance is pulling out of the US commercial segment, a move that highlights the scale of legacy runoff and reserve pain hitting underwriting profitability. The exit underscores the execution risk of rebuilding profitable commercial books and the demand for clearer risk transparency and reserve analytics. (insurancebusinessmag.com)
Presurance released fourth-quarter results on March 27, 2026 showing a Q4 net loss attributable to common shareholders of $17.0 million and a full‑year swing to a $18.4 million net loss for 2025. (insurancebusinessmag.com) The company reported a Q4 underwriting combined ratio of 333.5% driven by a loss ratio of 286.9% and an expense ratio of 46.6%, metrics the firm attributes to adverse development on legacy commercial accounts. (insurancebusinessmag.com) Management said commercial lines produced zero premium in Q4 2025 and that commercial volumes were down about 67% year‑over‑year as the business continues to run off. (markets.businessinsider.com) Presurance stopped writing almost all commercial premiums by August 30, 2024 and shifted new production entirely into select personal‑lines homeowners business, with personal lines representing 100% of Q4 gross written premium. (publicnow.com) (markets.businessinsider.com) Capital moves this cycle included a backstopped rights offering on February 27, 2026 that raised $14.0 million, a $8.0 million private placement of Series C preferred stock on December 23, 2025, and the February 2026 redemption of $7.5 million of Series B preferred stock. (publicnow.com) Presurance said net written premiums fell 61.2% in Q4 to $3.7 million and 56.7% for the year to $21.3 million, a decline the company links to both commercial runoff and a quota‑share reinsurance treaty (reported at 50% on earlier disclosures) that reduced retained premium. (markets.businessinsider.com) (quartr.com) Book value per share dropped to $0.73 at December 31, 2025 from $1.76 a year earlier, while net investment income totaled about $5.0 million for the year on average invested assets of roughly $121.3 million. (insurancebusinessmag.com) (quartr.com)
